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Home protection for the elderly

(5 Posts)
Curiousmama Sun 02-Oct-11 20:55:07

Does anyone know anything about this? An old lady I know wants to try to protect her home if she goes into an old people's home. Basically wants the house to be inheritance for her dcs. Not sure why she asked me? Maybe thinks it morbid to talk to them?

Anyway I thought ask on here as mn usually help? TIA

CogitoErgoSometimes Sun 02-Oct-11 23:13:13

Maybe you look like someone who knows their stuff smile She really needs to take legal advice for inheritance planning. Her plan to give the house to her DCs in advance, for example, is not as simple as it sounds. This Money Saving Expert thread isn't bad.

Curiousmama Sun 02-Oct-11 23:16:29

Thanks for that. I'll tell her to take legal advice.

SinkingandSwimming Wed 12-Oct-11 10:38:17

Message deleted by Mumsnet.

HonestlyBanking Wed 12-Oct-11 11:14:09

This area will be one of the mis-selling scandals of the future. There are lots of 'schemes' being peddled about by those who will make a fat profit from it. Some will succeed, but most will be caught by HMRC or local authority regulations. Equity release is the thin end of the wedge.

As regards free Wills. There is nothing free in this world and that is extra true on the world of finance! If you have simple needs this sort of thing might work for you, but generally lawyers love these things as they earn (fat) fees sorting them out. If you have any doubts see a proper lawyer who is a specialist in this field and is probably a member of STEP (society of trust and estate practitioners)

Good luck!

Honestly Banking

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